Taiwan's stock market is climbing toward a new milestone, which is good news for tech investors after last week's Fed rate hike turned out to be less scary than feared.

• Taiwan's main index rose to its highest level since June, driven by TSMC turning positive and MediaTek breaking above 5,000 NT dollars for the first time.
• AUO jumped 9% on huge volume after reports TSMC wants to buy its factory in central Taiwan and that AUO is working with Intel on advanced chip packaging.
• Memory-chip stocks like Nanya and Winbond slipped after a Chinese rival boosted output, though chip-packaging stocks rallied instead.
• Foreign investors poured money back in after the Fed hike, with one of the biggest single-day buying sprees on record.
• Trading volume is expected to shrink ahead of the Mid-Autumn holiday, so any push past 48,000 could easily pull back.

Outlook: Whether the index clears 48,000 this week depends on US stocks and the Trump-Xi summit in Washington on Thursday, with the market likely to stay in a high but choppy range.